Some billionaires love to hate bitcoin.
Berkshire Hathaway CEO Warren Buffett labeled it “rat poison.”
JPMorgan Chase CEO Jamie Dimon said it’s “worthless.”
And investor Carl Icahn called cryptos “ridiculous.”
But one billionaire is going all-in on bitcoin.
Legendary investor Bill Miller made a fortune by buying Amazon stock early on.
Now he’s a self-proclaimed “bitcoin bull.”
Miller recently revealed that a whopping 40% of his personal portfolio is in bitcoin.
And last week, he had some bold comments about the crypto.
But as it turns out, everything he’s said, our own expert, Ian King, has said before.
Check out how this billionaire stacks up against Ian…
Bill Miller and Ian King: Thoughts on Bitcoin
On a potential banking crisis: “I consider bitcoin an insurance policy against financial catastrophe. […] With bitcoin, we can’t be wiped out by the government.”
Ian said the same thing all the way back in May 2018. He remarked: “[Bitcoin] will be a liberating force as citizens are able to hold more of their own value and won’t be subject to the whims of a profligate government or monopolizing middleman.”
On Warren Buffett’s criticism that bitcoin isn’t a productive asset: “The objective of investing isn’t to own productive assets. The objective is to make money.”
Ian agreed. He remarked: “Now, perhaps ol’ Warren simply got this one wrong. Hey, when you’ve got $84 billion in the bank, it’s hard to empathize with the little guy trying to put food on the table in faraway lands. Maybe he didn’t understand how investments in the new ‘internet of value’ actually work.”
On LUNA’s 99.99% crash: “Mike Novogratz got a big LUNA tattoo on his arm months ago with a wolf howling at the moon. It’s, like, ‘Whoops, maybe you should have got a bitcoin beaver on your arm, or something a little more enduring.'”
If Novogratz had been listening to Ian, he would have known to get out back in December 2021. Take a look below:
On inflation: “When the Fed stepped in during the pandemic […] bitcoiners realized: ‘Wait, we’re going to have inflation down the road.’ Bitcoin went through the roof. So I think it’s an insurance policy.”
Ian called this all the way back in 2018. At the time, he said: “And the best part: The value of bitcoin is only tied to the free market, or the price that buyers and sellers are willing to pay for the digital gold. […] There is no centralized authority overseeing the network that can devalue or steal your currency. […] While I can’t predict what country will face the next crisis, I can assure you that bitcoin will be an alternative store of value.”
Miller may be wild about cryptos now, but Ian was well ahead of the mainstream.
Billionaires Are Loading Up on the Next Gen Coin
While he’s late to the party, Miller is far from the only billionaire that’s raving about cryptos.
Elon Musk, Mark Cuban and Ray Dalio all own the “Next Gen Coin.”
Hedge fund manager Ken Griffin believes it will eventually replace bitcoin.
And Cathie Wood’s Ark Invest has been loading up on the Next Gen Coin.
She’s calling for it to rally 7,200% by the end of the decade.
In his new presentation, Ian lays out how this coin has the ability to power the rails of the $100 trillion global financial industry.
You can watch it now by clicking here.
Assistant Managing Editor, Banyan Hill Publishing
From open till noon Eastern time.
Repare Therapeutics Inc. (Nasdaq: RPTX) is a precision oncology company that develops therapeutics that focus on genomic instability. The stock jumped 34% after the company entered a license and collaboration agreement with Roche to develop and commercialize its candidate, Camonsertib.
Avaya Holdings Corp. (NYSE: AVYA) provides digital communications products, solutions and services for businesses worldwide. It is up 26%, continuing on its rebound from earlier in the week after hitting a new 52-week low.
Credo Technology Group Holding Ltd. (Nasdaq: CRDO) provides various high-speed connectivity solutions for optical and electrical ethernet applications. The stock is up 21% after the company beat fourth-quarter earnings estimates by a wide margin thanks to growth across all business segments.
American Superconductor Corp. (Nasdaq: AMSC) provides megawatt-scale power resiliency and wind energy solutions worldwide. The stock rose 20% after the company reported strong fourth-quarter results despite supply-chain disruptions.
Chewy Inc. (NYSE: CHWY) operates an e-commerce company that sells products for and caters to the needs of pets. It is up 19% after the company posted better-than-expected sales for the first quarter even though pet adoptions are slowing.
Pure Storage Inc. (NYSE: PSTG) provides data storage technologies, products and services internationally. The stock climbed 18% after the company beat first-quarter estimates thanks to growing demand for cloud-based storage.
Lands’ End Inc. (Nasdaq: LE) is a retailer of casual clothing, accessories, footwear and home products. The stock is up 17% despite reporting declining sales in the first quarter because the company maintained its earnings outlook for the year.
MongoDB Inc. (Nasdaq: MDB) provides a general-purpose database platform worldwide. It is up 16% after the company managed to bet both top- and bottom-line estimates for the first quarter.
UiPath Inc. (NYSE: PATH) provides an end-to-end automation platform that offers a range of robotic process automation solutions. The stock rose 15% after the company beat first-quarter estimates and set its outlook above Wall Street expectations.
KE Holdings Inc. (NYSE: BEKE) operates an online and offline platform for housing transactions and services in China. It is one of the Chinese stocks that is up 15% today after the Chinese government announced measures to support infrastructure construction and counter economic slowdown.